MIRA
INFORM REPORT
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Report Date : |
27.09.2007 |
IDENTIFICATION DETAILS
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Name : |
linqing sanhe
textile group co., ltd. |
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Registered Office : |
No. 1050, |
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Country : |
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Date of Incorporation : |
Nov. 23, 2005 |
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Com. Reg. No.: |
3715812801038 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in manufacturing various textiles. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
Up To USD 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
linqing sanhe
textile group co., ltd.
no. 1050,
TEL :
86 (0) 635-2431316
FAX :
86 (0) 635-2432538
EXECUTIVE SUMMARY
INCORPORATION DATE : nov. 23, 2005
REGISTRATION NO. :
3715812801038
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
STAFF STRENGTH :
5,000
REGISTERED CAPITAL : CNY160,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
7.51 =US1$
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a limited liabilities co. at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Nov. 23, 2005.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders contribute its registered
capital jointly. Shareholders bear limited liability to the extent of
shareholding, and the co. is liable for its debts only to extent of its
total assets. The characteristics of this form of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes manufacture,
processing, selling spinning, dyeing yarn, weaving cloth, and towel blankets;
exporting its products and technology; importing raw materials,
apparatus and instruments, machinery, components, and technology needed in
manufacturing and scientific research; and processing with imported materials, processing with imported samples,
assembling with imported parts, and compensation trade in agreement.
SC is
mainly engaged in manufacturing various textiles.
Mr. Wan
Qiusheng has been chairman of SC since 2005.
SC is
known to have approx. 5,000 staff members at present.
SC is currently
operating at the above stated address, and this address houses its operating
office and factory in the development zone of Linqing. Our checks reveal that
SC rents the total premise about 380,000
square meters.
http://www.linqingtex.com The design is professional and the content is well
organized. At present it is only in Chinese version.
No significant events or changes were found during our checks with the
local AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wan Qiusheng 95
Hei Yuzhi
5
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Chairman and
General Manager:
Mr. Wan Qiusheng, in his
Working Experience(s):
From 2005 to present Working in SC as chairman and
general manager.
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Sales Manager:
Mr. Wang Zhiwei
Tel: 86 0635 2431301
Mobile Tel: 13508925570
Fax: 86 0635 2432538
SC is
mainly engaged in manufacturing various textiles.
SC’s products mainly include: cotton yarn, and yarn-dyed fabric, etc.
SC sources
its materials 80% from domestic market, mainly
The buying terms of SC include Check, T/T, L/C, Check and
Credit of 30-60 days. The payment terms of SC include T/T, L/C, Check and
Credit of 30-60 days.
SC is known to have the following subsidiaries at present:
Linqing Sanhe Textile Group Co., Ltd. Spinning Plant
Linqing Sanhe Textile Group Co., Ltd. Dyeing Yarn Plant
Linqing Sanhe Textile Group Co., Ltd. Weaving Plant
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment and our debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent
payment record: None in our database.
Debt collection record: No overdue amount
owed by SC was placed to us for collection within the last 6 years.
Bank of
AC#：957538091001
Relationship:
Investigations were made with the local AIC, and SC’s financial records were not available.
SC’s principal
declined to release its financial records.
SC is considered as a large-sized company in its line. Taking into
consideration of SC’s general performance, reputation as well as market
conditions, we would rate SC as an average credit risk company.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)